That Was Then … In the last few years, most borrowers had to put at least 20% down, since mortgage lenders, still reeling from the subprime crisis, were under government pressure to tighten restrictions.

The contract is executed, all of conditions have been met, and it is time for the buyers and sellers to go to the settlement table. This is the final step of the real estate transaction. What are the expectations? What documents to be signed, and what are the closing costs?

No one enjoys paying extra monthly expenses, but for many people, private mortgage insurance, or PMI, is a necessity that allows them to successfully apply for a home mortgage. In this guide to understanding mortgage insurance, we’ll learn when lenders require PMI and what makes this mortgage insurance beneficial to the housing industry and the home buyer.

It’s the question you need to ask yourself before you even BEGIN your new home search. It’s the most important factor in determining what kind of home you can secure and where you can begin to look. It’s a crucial consideration for first-timers and veteran home buyers alike: How much can you afford to spend on your next – or first – home?

Home-shopping season is just getting under way, and many people who’ve sat on the sidelines in recent years are finally ready to enter a market that might be quite different from what they’re expecting. Here are a few tips to help buyers and sellers get the best results in the competitive market.

At the end of every December, people make all kinds of resolutions for the coming year. Typically, these are things they want to improve about themselves, ways to make their day-to-day personal or work life better, or ideas to put them on track for a change. Many times these surface as a result of mistakes made in the past 12 months.

Before buying a home in the Pensacola, Florida area, it is crucial to make sure that your credit is in good condition. The first step in doing so is to learn how your credit score is determined.

In today’s increasingly automated society, it should come
as no surprise that when you apply for a mortgage, your ability to pay can be
reduced to a single number. All the years you’ve been paying your mortgage, car
payments, and credit card bills can be analyzed, sliced, diced, spindled and
mutilated into a single indicator of whether you’re likely to meet your future
obligations.

One of the most crucial steps to take before buying a home is establishing or improving your credit score. A credit score is a statistical method to determine the likelihood of an individual paying back the money he or she has borrowed.

Before you can find the right home in Pensacola in which to live, you have to find the right neighborhood. When contemplating where your new neighborhood should be, why not think big? Here are some tips to help you find a neighborhood.

Paying points on a mortgage doesn’t always make financial sense. It just might save you thousands of dollars- or it could really cost you. This guide will help you understand what points are and help you determine whether you should pay extra for them at the closing table.